US-Latin America Energy Investment
While the Trump administration’s “America first” policies are aimed primarily at giving higher priority to national security and economic growth for the United States, the White House’s approach will have impacts on energy relations with the rest of the hemisphere that should also be considered.May 16
Addressing Latin America’s transportation challenge requires an integrated approach, including stemming the growth in demand for private cars by improving public transportation systems and non-motorized transportation options; improving fuel efficiency and fuel quality standards; and diversifying fuel sources for transportation.
The less than 3 percent of Colombia’s population that lacks electricity lives mainly in areas of the country that have long been controlled by the FARC and other armed groups, such as Chocó in the Pacific, La Guajira on the Caribbean coast, and Putumayo in the Amazon. Not coincidentally, Colombians without access to electricity also have higher rates of poverty, fewer basic public services, and lower education levels than the rest of the country.
Latin America faces many challenges in developing its energy resources and providing clean, affordable and reliable energy. With presidential elections in Brazil, Mexico and Colombia next year, there is considerable uncertainty about future energy policy, as potential candidates in these countries have presented widely varying energy and economic policy platforms.
With the fastest growing car fleet in the world, Latin America has reason to accelerate the transition to electric vehicles. Costa Rica, with its strong commitment to tackling climate change, is positioning itself to vastly expand EV use in the next five years.
Under President Juan Manuel Santos, the Colombian government has vastly expanded protected areas, creating new national parks and providing land titles to indigenous and Afro-Colombian communities in the Amazon, Chocó and other important forest regions. However, many challenges remain. National parks and indigenous and Afro-Colombian lands continue to be threatened by illegal occupation, coca cultivation and illegal gold mining.
In spite of a steady economic recovery, low inflation and improving fiscal balances, Latin America is seeing weak private investment in energy and other sectors.
Providing reliable, clean energy to Colombia’s growing population will be a tremendous challenge in the coming years, especially in light of the peace process with the FARC.
Victoria Isabel Cardiel C. entrevista a Lisa Viscidi, la directora del Programa de Energía, Cambio Climático e Industrias Extractivas del Diálogo Interamericano, sobre la decisión de Donald Trump de retirar a Estados Unidos del Acuerdo de París y cómo afectará a América Latina.
As Latin America moves towards reducing greenhouse gas emissions and fulfilling its Paris commitments, it must also work to meet rapidly growing electricity demand, which is projected to almost double by 2040.
President Donald Trump’s announcement on June 1 that the United States would withdraw from the Paris climate agreement was met with widespread dismay and fears that the decision would put the entire global agreement in peril.